As 2009 came to a close the Directors of knp Solutions treated their Clients and Staff to an entertaining evening with the much admired and respected, AFL coach and spokesman, Kevin Sheedy.
The crowd eagerly heard Mr Sheedy's thoughts on building a successful team and heeded his warning to never overlook the potential of the person next to you.
As with previous knp functions, the Directors were delighted with the client turnout and were pleased they were able to hear the calibre of speaker Kevin Sheedy delivered.
“After a tough year in business for most of our clients, Kevin’s talk brought a different way of approaching difficult situations in an attempt to maximise opportunities” said Director, Norman Same.
The Commissioner has provided his preliminary views on whether a trustee of a self-managed superannuation fund (SMSF) can purchase a trauma insurance policy for a member without contravening the superannuation legislation.
The Commissioner says a trustee will not contravene the superannuation legislation provided:
• any benefits payable under a policy:
− are required to be paid to the trustee;
− will become part of the assets of the SMSF until the relevant member satisfies a condition of release; and
• the acquisition of the policy is not made to secure some other benefit for another person.
The Government has introduced a Bill into Parliament which seeks, among other things, to:
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remove the CGT trust cloning exception and providing a limited CGT relief when transferring assets between two fixed trusts;
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update the list of deductible gift recipients to include two new organisations and change the name of one organisation; and
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exempt the Income Recovery Subsidy payments to North Western Queensland flood victims from income tax.
